Tag: remittance

Global remittance startup SendFriend has raised $ 1.7 million in pre-seed funding by 13 participants. The US company announced Monday that it had received support from MIT Media Lab, Barclays, the Mastercard Foundation, Ripple, TechStars, Mahindra Finance, 2020 Ventures, and 8 Decimal Capital. Other companies that joined the round at an earlier stage include Deloitte and New York Angels. Thanks to @BuiltInNewYork for including us on their list of 50 Startups to Watch in 2019. Excited for a fun year ahead! #fintech #sendfriend #nyctech https://t.co/9OxD8xIQVG — SendFriend (@sendfriendinc) February 5, 2019 Partnership with Ripple Labs Launched in May 2017 by a

According to The Times of India, money transfers cost citizens and non-residents over $ 2.3 billion in fees last year for clearing payments into India, the world’s biggest market for inward remittance. Nischal Shetty, the CEO of local Bitcoin exchange WazirX, said that the dominant cryptocurrency could bring down remittance costs to near zero. Dear @arunjaitley @narendramodi Rs. 15,000 crores. That's just remittance fees paid by Indians in a year. Crypto has the potential to bring down this cost to almost Zero. All this money could go to the people. Let's join the revolution & find solutions #IndiaWantsCrypto pic.twitter.com/zeNZ6FQgw7 — Nischal

Bitpesa founder and CEO, Elizabeth Rossiello, has claimed that bitcoin-based remittance services have reduced the costs of international payments by 75%, and reduced the average time of settlement from 12 days to approximately 12 hours. Rossiello also discussed the African cryptocurrency economy and changing…